3 Mar 2020

Ross Asset Management investors tell court of losses

From Checkpoint, 6:16 pm on 3 March 2020

Investors from the collapsed Ross Asset Management company have had their turn in court today, as their bid to sue the ANZ Bank is wrapped up.

Wellington financial adviser David Ross was jailed in 2013 for a fraud that left investors $115 million out of pocket.

550 former investors have bought a class action against the bank where Ross' accounts were held, claiming it knew - or should have known - the accounts were being operated illegally.

On Monday lawyers for ANZ told the High Court in Wellington, the claim lacked specifics and shouldn't proceed to trial. Today, the claimants hit back.

Business reporter Emma Hatton with the details.